Covol Technologies Inc. announces intention to implement 2 for 1 stock split in the form of a dividend on the close of business Jan. 16 (the record date).LEHI, Utah--(BUSINESS WIRE)--Jan. 12, 1996--Covol Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) Friday announced that it will implement a 2 for 1 stock split, in the form of a dividend, in its common stock. Holders of the company's issued and outstanding common stock on the record date will receive one additional share of common stock for each share then held. The payable date will be Jan. 22, 1996. It is anticipated that the shares will be distributed on or about that date. Ken Young, Covol's chief executive officer, stated, "This move is expedient ex·pe·di·ent adj. 1. Appropriate to a purpose. 2. a. Serving to promote one's interest: was merciful only when mercy was expedient. b. based on the rapid growth of the company and keeps the stock price in a range that is accessible to the average investor. In addition, we believe that this will also enhance the marketability for Covol stock for going on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , which the company believes will be in the first quarter of 1996." Covol Technologies Inc. is a technology development company focused on recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. yesterday's waste into tomorrow's resources. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481; Fax: 801/768-4483 |
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